Company Profile

He said in a statement: “Bunge has substantial milling and refining assets in Brazil, backed by a global trading and merchandising organisation headquartered in London. Combining with Tully Sugar is an ideal next step in Bunge’s strategy of building a large-scale global sugar business. It is a first class facility located in the key North Queensland sugar growing region, which is a geographically advantaged supplier to Asia, the world’s fastest growing consumer of sugar. We look forward to linking Tully Sugar to our global business and we are keen to explore possibilities for expanded cane production."

Mr White said Bunge remains committed to “the ongoing success of Tully Sugar’s operations and to the growers with whom it partners", indicating that the company would “honour the contractual obligations" that Tully Sugar has with growers and Queensland Sugar Limited (QSL).

Tully Sugar is one of Australia’s leading milling companies and is a long-standing and valuable supplier to QSL.

The offer document and notice of shareholder meeting will be sent to shareholders in January 2011.